How to Use Pivot Points!!!!
Nice thread James!
I look forward to watch how prices reacts off of these pivot levels and become better trader. Anyone can learn good skills from watching how price reacts off of pivots and how to trade them!
Thanks 
gudday' mates,,
I, of everyone, need the most help and knowledge in my trading, in this area of pivots.
first, the mathematics behind these equated levels seem simple enough, but I do not understand how to trade them.... Is it break out strategy? Is it a place to spot a new trend change? Is it both? I do not know.........
second, I notice on different brokers mt4 platform, these pivot lines seem to be place differently according to what GMT zone they are in. So which is the best use? I do not know.........
I also notice there are a ton of different types of pivot indicators to use. Which is the best one to use? Does it matter?
I hope to find some of these answers here to become a better trader. As you can see in my chart that I am using a different pivot indicator because I thought it looked better (everyone has their own way of how they want their chart to look)
Also, you can see on the chart I post, the HUGE spike/wick that indicates possible trendchange. That is real reason I enter trade (obvious) so I enter trade right away with no help of pivot. How could of I used pivot in this trade? I do not know......... One thing I know, I closed the trade out way too early, 15pips that could of been 30......... I always do this 
this is out of fear and greed (emotions),,, And I hope I can fix this problem 
Pivots are interesting when placed on chart in the periods of Daily, Weekly and Monthly. This gives a great trend confirmation of short, medium and long term trend if they are lined up like MAs.
The Waddah Attar Pivots are really helpful because it allows you to see why current movements are stalling, or creating reversal wicks. I don't personally like to use pivots, since it creates a sense of confidence of reversals. However it is useful to use across many pairs to see multi pair reversals and see how the correlating pairs are reacting to these pairs. Much like when EU and GU hit the 20 SMA, most of the time USD CHF also goes in the opposite directiong if EU and GU stall from the SMA.
I also don't like the R1 or S1 etc.. levels. I just to use the main pivot in the center.
Pivot points are the next best thing to support and resistence, I use them in the same way as support and resistence when scalping. As James said, the best pivot is usually the center pivot (daily pivot etc) however you should be mindful of any pivot point that has been previously confirmed in the day and thus become support / resistence. When a pivot point is confirmed it becomes support / resistence.
You should trade a trend change, for example if price is moving up and it bounces of a pivot point then you would trade that.
Forget about candlestick formations, it's all hocus pocus the ONLY thing you should be concerned with is where price is moving, there is no indicator that can predict that other than support and resistence, just trust me on that you'll save yourself a lot of time.
Price doesn't always respect every pivot point so If you want to be more cautious with your day trading then you could only trade previously confirmed pivot points.
With regards to finding trades, it really is as simple as identifying an existing trend on a chart and trading it when it bounces off support / resistence or a pivot point. Basically you are trading the change in trend and not the trend itself, this is why a lot of other traders fail because they spend their life trying to trade trends. The trend is not your friend, it's an evil bastard called murphy who wants to take all your money. Eventually I came to realise (after constantly getting in too late) that for the most part a trend is only useful to you when it reverses.
Add fractals to your chart as these are good at spotting the swing hi's and swing lo's. Although they don't make much pips you should trade the swing hi's and lo's as it's always one of those that will turn into a 30 pip rally, this is true on all currencies. Do not get concerned about loosing a few pips here and there.
Do not get bogged down with indicators or oscillators, all of them are useless, the only thing you need to be concerned with is price. Practice and more practice is the only way to become a good trader, over time your brain will become accustomed to familier chart patterns. This is where people go wrong aswell, they start out trading and fail and think "oh I need to get some more indicators", No you don't, what you need to do is keep practising until you get better!!!
Do not use any indicators, just trade pivots and support / resistence. Forget about EMA's and stocastics, MACD, all of this will just slow you down, as a retail trader you are paying spread and you may even be loosing money trading the swing hi's / lo's so you don't want more losses because of waiting for a lagging indicator. just trade the reversals and keep your stops tight and you'll get that 30+ pip rally.
People who say ignore range bound markets don't know shit, if you can cover your costs trading the swing hi's and lo's in a range bound market then you absolutely 100% must be taking these trades as you will be the one catching the big pip breakout when the market starts trending. You've got to be in it to win it. Some traders make money waiting for pullbacks but I never did as pullbacks still have a tendancy to turn into fake outs.
Stop using indicators, trust me on that and you will save yourself years of wasted time, you are a human with a brain that can spot trend changes quicker than any indicator, let the bots and the newbies wait for lagging confirmation. If you have even an EMA on your chart, you are wasting your time and will not make money scalping the forex. There will probably be a backlash of posters who disagree with me here, just look at their post count though, if it's less than 10 posts they are scammers trying to sell you shit.
Add up your profits and losses at the end of the day, keep a traders log and only risk a small amount per trade, for example $1000 account 0.05 lots. Respect your stop losses and never let a loosing trade keep running in the hope that it'll reverse, that's how accounts get blown up.
Keep practising until you are making consistent profits, go live when you feel that you are earning enough money to consider it a full time job.
If you find that you really can't trade the charts in meta trader consider using Renko charts in conjunction with regular charts renko charts do not display time, just price. These make things quite a bit easier for people who have trouble visualising price outside of time.
That was very well written! Thanks allot for that insight. I am going to read that over and over, and keep practicing pivots like you said.
Any one who was unclear about pivots, like me, just learned allot of insight right there.
thanks allot leerees.
~Kinjaheed
on the money........
i could not have said it any better.................
your brain is the best EA there is.
train it to press the button when you see the box breakout to the next level.
then you have arrived......
s
Great insight leerees. I appreciate your donation to the thread. It will really help a lot of people who seek a trading route in Forex. Which do you find more useful though, Renko or Range bars?
And leerees, MAs make great S/R levels, so saying having just one MA on your chart is a waste is not true at all. They make better S/R levels than pivots most of the time.
Yes, agree: MAs are great for support and resistance.
We are having some thread about it https://www.mql5.com/en/forum/175824 with the settings of MAs (SMA) so may be it will help for this thread too.
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Welcome!
Lets see what we can come up with to trade effectively off of pivot points.
I will attach 2 indicators. One is Waddah Attars Pivots, which show Monthly, Weekly, and Daily Pivot points, and the second indicator which allows you to turn any amount of minutes into a a pivot point.